Bitvavo makes Binance Coin as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
What is Binance Coin?
Binance coin is the native token of the Binance exchange and smart chain, launched in an Initial Coin Offering (ICO) in 2017. It is primarily used to pay discounted trading fees on the exchange, as well as to participate in ICOs on Binance's launchpad platform.
How to buy Binance Coin?
Bitvavo makes it as easy as possible to buy digital assets and cryptocurrencies.
1. Sign Up
Create a free account with which you can buy, sell, send, receive and store Binance Coin. Access your Bitvavo account from every location, on mobile and desktop.
2. Transfer Funds
Verify your account and transfer Euros to your Bitvavo wallet using one of the 8 supported payment methods.
3. Buy and Trade
Buy or sell over 150 digital assets and pay a maximum trading fee of 0.25%. Store your assets in your Bitvavo wallet or send them to your external wallet.
How to store Binance Coin?
Storing Binance Coin and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Binance Coin without any technical knowledge. Here is a brief overview of the existing wallet options to store your Binance Coin:
Hosted wallets are wallets where the private keys to your Binance Coin are managed by a third party such as Bitvavo. Access to your account is protected by a password and other advanced security features. Once you are logged in, you can easily and conveniently manage your Binance Coin online. Bitvavo offers standard hosted wallets for all digital assets that are offered on the platform.
A software wallet is a program installed on your computer or other device in order to use and manage your Binance Coin. Using a software wallet gives you full control over your private keys, so you are not dependent on third parties. The risk is that you alone are in charge of the security of your Binance Coin, and if malicious parties have access to your device, your private keys (and therefore your Binance Coin) can be stolen.
A hardware wallet is a physical device on which you can store your Binance Coin offline. It is one of the safest ways to store your Binance Coin, because the private keys are stored on a separate and offline device. Access to this device is often protected by a password. In many ways, a hardware wallet can be compared to a safe in which your Binance Coin is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Binance Coin. Once you have purchased Binance Coin on Bitvavo, you can choose to send your Binance Coin from your Bitvavo wallet to your own software or hardware wallet.
Direct Euro Transfers
Buying digital assets with Euros has never been easier. Bitvavo supports 8 payment methods, including SEPA for instant transfers.